Get Top Talent to Remain in Positions

Jan 16, 2013

Today's businesses have to address many issues such as the volatile economy, the need for new technology and operating on less-than-favorable budgets.However, what may be the most troubling problem of all is the ability of

Today's businesses have to address many issues such as the volatile economy, the need for new technology and operating on less-than-favorable budgets.However, what may be the most troubling problem of all is the ability of companies to attract and retain top talent. Not only will firms with the most skilled employees be the ones that find themselves at the top of their given industries, but corporate performance management will be less of an issue, with business owners knowing that their staff are capable of getting the job done.

While attracting the most highly skilled employees seems like something the top businesses would have little trouble with, the talent gap in America is making things difficult for hiring managers across the country. A article written by Bob Moritz, chairman and senior partner at PricewaterhouseCoopers, for the Huffington Post spelled out the problems that many employers are facing with hiring and retaining the best employees at their firms.

Firms need employees with a wider breadth of knowledge
Many employees are getting more schooling than ever, but still aren't able to meet the needs of CEOs across the country. Moritz pointed to statistics that show 77 percent of CEOs are concerned about the unavailability of key skills, and 60 percent believe this is a major problem when it comes to filling jobs. Teaching students about some of the latest innovations in technology, as well as traditional lessons such as finances and economics, are just a few of the skills top talent need to possess.

CEOs must be creative with top talent
Today's most highly trained professionals want to step into firms are quickly become a part of corporate strategy and take on many roles in the workplace, wrote Moritz. Without including employees in these processes, companies run the risk of losing their top talent to other businesses that will give highly skilled workers more free reign inside the workplace.

Boomers retiring creating several roles
Baby boomers are reaching their late 60s and early 70s, deciding to retire to enjoy the rest of their lives. The skills gap is making it difficult for many hiring managers to fill their roles. Recent research conducted by the Career Advisory Board, established by DeVry University, revealed that only 17 percent of hiring resources professionals said job seekers have the skills and traits their organization is looking for in a candidate. Alexandra Levit, business and workplace consultant and Career Advisory Board member, said the skills might not be the problem, but the ability to communicate their talents to employers.

"While job seekers in the market may have the appropriate skills for a position, they simply don't effectively communicate the experience and leadership traits sought by hiring managers," said Levit. "Ultimately, senior-level job seekers are underselling themselves; they're not focused on demonstrating higher order professional skills like strategic thinking and a global perspective."

Many professionals may possess the skills to fill these role left by boomers, but are failing to seek help from career counselors that can help them land these jobs. The research found 66 percent of jobseekers include skills specifically mentioned in the job description while only 34 percent provide a listing of skills or experiences that can attractive to many employers.

"While gaps continue to exist, if job seekers more proactively engage in professional development and guidance during the job search, they will be more successful in delivering what hiring managers and companies are seeking," said Madeleine Slutsky, chairman of the Career Advisory Board, and vice president of Career Services at DeVry University.

Does your company know how to hold on to its most skilled employees? Is your business ready to fill jobs left by baby boomers?